SAICA Code of Conduct
The Board of the South African Institute of Chartered Accountants (SAICA) has adopted the International Code of Ethics for Professional Accountants (including International Independence Standards) as released by the International Ethics Standards Board for Accountants’ (IESBA) in 2018 in its entirety.
SAICA is a member of the International Federation of Accountants (IFAC) and has adopted the International Code of Ethics for Professional Accountants with the permission of IFAC but have however included additional guidance to assist in the local application of certain requirements applicable to all SAICA members and associates.
The Code is applicable to all SAICA members and associates as defined in the SAICA Constitution. A contravention of, or failure to comply with any requirements of the Code, may be regarded as a Punishable Conduct or misconduct in terms of sections 4.1.5, 4.1.7, 4.2.5, 5.1.5, 5.2.2, 6.1.5, 6.1.8 and 6.2.2 of Appendix 4 of the SAICA By-laws and as such may be investigated and if appropriate the member or associate may be found guilty and may be liable for penalties as described in the By-laws.
Sections 4.3 and 5.1.12 of the By-laws state that Punishable Conduct on the part of a trainee accountant shall include any conduct which would amount to Punishable Conduct had it been perpetrated by a Member, Associate General Accountant or Accounting Technician. Annexure 3, item 2.4 of the SAICA training regulations requires that trainee accountants should at all times keep the affairs of the training office and its clients confidential and not breach any codes of professional conduct, disciplinary rules or by-laws that apply to the profession of a CA(SA) or an AGA(SA) and, if applicable, a Registered Auditor.
The Code also conforms to the Independent Regulatory Board for Auditors (IRBA) Code of Professional Conduct for Registered Auditors. South African amendments to the IESBA Code of Ethics are underlined and in italics in the Code.